A lot of studies have been conducted to understand the new breed of workers dominating today’s workforce—the millennials. Often, it is not flattering how they are being described. Millennials come off as juvenile and self-indulgent compared to their diligent, older counterparts or the Baby Boomers.
It can be quite unfair to say that millennials are not capable of doing great things in the corporate arena. When, in fact, this younger generation of workers are hardworking, brilliant, resilient, resourceful, and are capable of climbing the corporate ladder.
What the experts seem to fixate on is the fact that these young, brilliant but somehow impatient demographic is delaying the long, winding climb to the corporate top and choose to climb mountains and pitch tents than careers.
Here’s the real, hard truth: Millennials are now dominating the workforce. According to the Pew Research Center, there are about 53.5 million of them in the workplace, and they are growing in numbers consistently. Whether you like it or not, the millennials are taking over not only in the corporate arena but also in the business as evident in the rise of startup companies.
The big goal now is to educate how companies attract, approach, and retain top talents from the millennial pool. This begins by creating a company culture wherein bright, young talents can grow and become effective leaders. Here are some tips to do it.
Build a collaborative working environment.
In a preschool setting, a millennial is probably the child who doesn’t want to stay put and play with colored blocks. Rather, this child would go around the classroom and look for something interesting, tinker with it a bit unless he or she finds his most favorite activity. Baby Boomers probably see millennials exactly this way.
The truth is that millennials were born in a highly multitasking world. They are spoiled for choice and want to try different things before focusing on the one they want to pursue for an extended period. If your workplace does not encourage open communication and collaboration, you will not attract top talents in this pool.
Offer coaching or mentoring programs.
In one Harvard Business Review study, researchers found that millennials yearn consistent feedback about the work they do. They are in a hurry to become successful. This explains the need to know if they are doing well enough to become promoted.
“For this generation, raised by so-called helicopter parents who told them their opinion matters and lives too short to be unhappy, the relationship with a boss could have an almost parental dynamic,” said Lisa Orrell, author and founder of The Orrell Group, a consultancy firm.
The bottom line is that millennials want to learn the ropes. If you want to keep millennials for the long haul, give them mentors who can teach them the best practices and what it takes to reach the top.
Build a diverse workforce.
A joint study by Billie Jean King Leadership Initiative and Deloitte found that millennials believe that cognitive diversity is a vital tool for innovation. While millennials seem to bask in being unique, they also yearn for belongingness. They want to feel welcomed, valued, and part of the team regardless of their background, socio-economic status, cultures, experiences, beliefs, and sexual orientation.
Give rewards for the hard work they do.
More often than not, a millennial’s ability to multitask creates various sources of income. Therefore, monetary work rewards and other financial compensation are not as attractive anymore.
While recognition is important to millennials, the rewards program needs to have content to touch on the factors that make them tick namely self-actualization, belongingness, and self-esteem.
Apart from compensation, you can offer them the chance to become brand ambassadors, which is more enticing to this younger breed of workers.
Build a brand they want to represent.
Millennials know the importance of image. But, before you even approach millennial candidates, especially the currently employed top talents, you need to create a brand they want to represent, a company culture that they want to be part of, and a company wherein they can grow.
You have to communicate it in the one place they all seem to hang out which is social media.
Harness the Millennial Prowess
While millennials seem to be dominating the workplace, finding the best of the best can be hard, especially if your company has only started to understand what this demographic is all about. This is where a recruitment firm can help you. Their best practices are tailor fit to find the top talents for your company based on your needs, goals, and values.
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